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Reinsurance News


July losses reach into billions of dollars after record heat, rainfall: Aon

13th August 2019

The impact of hurricane Barry combined with a series of severe thunderstorms in the U.S., monsoonal flooding across parts of Asia, and a record-breaking heatwave in parts of Europe contributed to billions of dollars of insured losses in the month of July, according to re/insurance broker Aon. Hurricane Barry made landfall ... Read the full article

Aon advises HSBC on £7bn pension longevity swap with Prudential

13th August 2019

Aon has announced its involvement as an advisor in the recently-completed longevity swap transaction between The Prudential Insurance Company of America (PICA) and the HSBC Bank (UK) Pension Scheme. The longevity swap is the second largest transaction ever completed for a UK pension scheme, and concerns longevity risk in relation ... Read the full article

Aon partners with UVARA to address infrastructure management risks

2nd August 2019

Re/insurance broker Aon has entered into a strategic alliance with UVARA (formerly BetterGIS), an end-to-end asset mapping and management solution, to help architecture, engineering and construction (AEC) industries across the globe better manage risks. Founded in 2015 by a team of engineers and utility infrastructure professionals, UVARA looks to address the ... Read the full article

Aon increases revenue to $2.6bn in Q2, driven by reinsurance growth

26th July 2019

Aon has released its results for the second quarter of 2019, which show a 2% increase in the broker’s total revenue, partly driven by significant growth in its Reinsurance Solutions segment. Overall revenue increased by $45 million to $2.606 billion, boosted by an 11% increase in the revenue of Aon’s reinsurance ... Read the full article

Aon partners with insurtech Bunker to target on-demand economy

26th July 2019

Aon has entered into a new commercial partnership with Bunker, a business insurance and compliance platform for independent workers and enterprises, to target the growing on-demand, sharing economy. The agreement provides Aon and its clients with access to Bunker’s compliance platform and Live Certificate of Insurance, which ensures an organisation’s contractors, ... Read the full article

H1 insured cat losses hit 12-year low at $20bn: Aon

25th July 2019

Insured catastrophe losses totalled just $20 billion during the first half of 2019, marking the lowest level of average losses since 2006, according to re/insurance broker Aon. Industry losses were 45% below the 10-year average of $28 billion and 26% lower than the 21st Century average of $25 million, but still ... Read the full article

Aon targets reduced workers’ comp claim costs via AI

24th July 2019

Global insurance and reinsurance brokerage Aon has taken steps to reduce workers' compensation litigation costs via the expansion of its strategic relationship with CLARA analytics, a provider of artificial intelligence (AI) technology in the commercial insurance space. Aon's Casualty Laser Diagnostic tool reveals that attorney involvement on a workers' comp claim ... Read the full article

Aon promotes Barrett to Regional Managing Director role

22nd July 2019

Global re/insurance brokerage Aon has confirmed the appointment of Vincent Barrett as Regional Managing Director EMEA for its Captive & Insurance Management business. Barrett has been with Aon for over a decade and will move from his previous role as Chief Commercial Officer to assume responsibility for leading the group’s regional ... Read the full article

Darren Zeidel named Aon’s General Counsel

17th July 2019

Global brokerage Aon has announced the appointment of Darren Zeidel to the role of Executive Vice President, General Counsel and Company Secretary. Effective July 22, Zeidel leads the Aon’s global law department and manage legal, compliance, regulatory and public affairs. He succeeds Peter Lieb following his departure from the company in early ... Read the full article

Joshua Walker joins Aon’s Intellectual Property Solutions as Chief Product Officer

17th July 2019

Global insurance and reinsurance brokerage Aon has appointed Joshua Walker Chief Product Officer for the firm's Intellectual Property Solutions division, based in San Francisco. In his new role, Walker will lead the team as it continues to develop and evolve a comprehensive set of consulting, valuation and risk transfer offerings within ... Read the full article

Global reinsurance demand flat to slightly down: Aon

16th July 2019

Total demand for renewals at June / July were flat to down slightly in private market reinsurance demand, according to global re/insurance brokerage Aon. Meanwhile, dynamics of peak Florida reinsurance placements shifted following two years of loss activity and in some cases increased loss development for Hurricane Irma. Aon says this resulted ... Read the full article

Aon names Tim Ronda as President of US Reinsurance Solutions business

12th July 2019

Re/insurance broker Aon has announced the appointment of Tim Ronda as President of its US Reinsurance Solutions business, effective immediately. Ronda joined Aon in 2005 and most recently served as Executive Managing Director based in New York, and as Branch Manager for the New York/New Jersey region. He has 23 years’ experience ... Read the full article

Coinbase & Aon exploring plans to set up captive crypto insurer

11th July 2019

Coinbase, a San Francisco-based digital currency exchange, is exploring plans to set up its own captive insurance company with the help of re/insurance broker Aon, according to reports from coindesk. The company would insure risks related to crypto-currencies, an area Aon took its first steps in earlier this year via the ... Read the full article

Most of $2bn June European weather losses insured: Aon

11th July 2019

A series of severe weather outbreaks that swept across Europe in June is expected to have generated over $2 billion in economic losses, most of which will be covered by insurers. The latest catastrophe report from global re/insurance brokerage Aon describes how multiple countries across Central Europe were hit with large ... Read the full article

Traditional sector drives rebound in global reinsurance capital: Aon

9th July 2019

Global, dedicated reinsurance capital increased by 3% in the first-quarter of 2019 to $605 billion, driven by growth in the traditional sector which more than offset a decline in alternative reinsurance capital, according to insurance and reinsurance broker, Aon. According to the broker's Reinsurance Market Outlook report, from the end of ... Read the full article

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